Apple gives 2M more consumers access to Apple Pay with new credit union partnerships

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Comments

  • Reply 21 of 42
    ian58952 wrote: »
    I have a friend that works in Target Corp's I.T. department and they are currently working on supporting Apple Pay. He told me that they had a team working on a secret project since about September and they recently told the whole I.T. team that they were laying the plans to support Apple Pay. While they intend to support it soon they simply don't have NFC equipped credit card readers in all of their stores and it will take some time to upgrade all the stores and their systems. They also need to go through an internal testing phase where only employees will use it.


    While I don't know anyone that works in Target's financial division it's also pretty clear that they would also wait to roll out Apple Pay until their Red Cards support it and they're able to track customer purchases that way.


    In regards to Target adopting CurrentC, my friend told me that they've been completely reexamining adopting CurrentC since they payment system was hacked in October. While Target has had employees testing CurrentC in stores we're probably more likely to see Apple Pay rolled out first. Target took a lot of heat for their hack last year, with their CEO resigning and a significant sales decline, they're approaching mobile payments very carefully.

    I certainly hope this is accurate. Apple and Target are several of my favorite companies. I like both so much I own their stocks. ????
  • Reply 22 of 42
    solipsismysolipsismy Posts: 5,099member
    mpantone wrote: »
    As an Apple shareholder, I don't see why Apple should subsidize deployment of merchant POS terminals to support Apple Pay.

    1) He said, could, not should.

    2) It makes perfect sense for those that will benefit from the service being used to offer assistance in deployment so that it gets used. This happens all the time. A bank will pay for an ATM to be installed somewhere and they will not only strengthen their customer's banking options with free cash withdrawals, but also earn money from withdrawals by others not associated with that bank, and potentially from new customers that like to see how many ATMs they have in an area. This could very well benefit Apple's bottom line on multiple fronts. That said, I don't think they need to because I think ?Pay is progressing very well. Remember it only launched a few months ago.
    As mentioned by donarb above, there is a liability shift later this year: most retailers will be upgrading their POS terminals in the near future anyhow (if they haven't already done so) to support the new chip-and-sign cards that are being deployed currently to consumers.

    My local 7-11 recently switched out their card swipe machines for ones that support chip and pin. They don't support NFC. Chip and pin may be better than a standard card swipe, but it's still very far from the innate security of ?Pay.
  • Reply 23 of 42
    mpantonempantone Posts: 1,643member

    I wrote should, not could.

     

    Banking is heavily regulated.

     

    In any case, just face reality: Apple isn't going to subsidize POS terminals.

     

    It's really up to the merchant to determine what payment options to use, whether it's 7-Eleven, the mom-and-pop taqueria down the street, or your local BMW dealership.

     

    Heck, I shop my town's weekly farmer's market and many stands only accept cash (gasp!).

  • Reply 24 of 42
    Once Apple Pay supports online lottery ticket sales and redemptions, there will be no stopping Apple Pay. Apple will have won the Internet!
  • Reply 25 of 42
    oneof52oneof52 Posts: 112member
    I have an Amazon card. Wonder if that works.
  • Reply 26 of 42
    solipsismysolipsismy Posts: 5,099member
    Once Apple Pay supports online lottery ticket sales and redemptions, there will be no stopping Apple Pay. Apple will have won the Internet!

    Could you explain that?
  • Reply 27 of 42
    solipsismysolipsismy Posts: 5,099member
    sog35 wrote: »
    mines does.

    just scan your card and the app will tell you if it works or not

    Amazon Chase VISA added support right after ?Pay went live.
  • Reply 28 of 42
    chadbagchadbag Posts: 1,521member
    3 of those credit unions are in Utah, 2 of them based in Utah. While I use them on a regular basis as shared branches, the credit union we use (which is on the list to join Apple Pay) is not yet hooked up. But pretty good for two regional Utah credit unions (Cyprus and Mountain America) to be in the list. Just need Digital Credit Union in Mass and Deseret First FCU here in Utah to get hooked up... (And Discover)
  • Reply 29 of 42
    solipsismy wrote: »
    Could you explain that?

    Sure. Lottery ticket sales are currently restricted to secure POS units and retailers (AFAIK). Apple Pay MAY open a door to direct payments online due to rock-solid security implementation. I'm just working things out to a logical conclusion.
  • Reply 30 of 42
    ian58952 wrote: »
    I have a friend that works in Target Corp's I.T. department and they are currently working on supporting Apple Pay. He told me that they had a team working on a secret project since about September and they recently told the whole I.T. team that they were laying the plans to support Apple Pay. While they intend to support it soon they simply don't have NFC equipped credit card readers in all of their stores and it will take some time to upgrade all the stores and their systems. They also need to go through an internal testing phase where only employees will use it.


    While I don't know anyone that works in Target's financial division it's also pretty clear that they would also wait to roll out Apple Pay until their Red Cards support it and they're able to track customer purchases that way.


    In regards to Target adopting CurrentC, my friend told me that they've been completely reexamining adopting CurrentC since they payment system was hacked in October. While Target has had employees testing CurrentC in stores we're probably more likely to see Apple Pay rolled out first. Target took a lot of heat for their hack last year, with their CEO resigning and a significant sales decline, they're approaching mobile payments very carefully.
    Very informative post, thanks!
  • Reply 31 of 42
    fallenjtfallenjt Posts: 4,040member
    Quote:

    Originally Posted by SpamSandwich View Post





    How does Apple Pay work at the McDonald's drive through? Do they bring out an NFC handheld?

    There's POS with NFC capability at the window. Jack In The Box has been having it for a few years now. Even my company cafeteria and vending machines have NFC POS.

  • Reply 32 of 42
    fallenjtfallenjt Posts: 4,040member
    Quote:
    Originally Posted by mpantone View Post

     



    Discover is late to the party because they pulled the plug on their NFC payment experiment. They ran some trials, but it was never fully deployed, they just gave up on it, unlike the other major credit cards (Visa, MasterCard, American Express) who have been involved in NFC wireless payment systems for years.

     

    I suggest you contact Discover about when/if they intend to deploy NFC wireless transactions at all. Like the Visa credit card affiliated with my credit union, Discover is just a dumb slab of plastic right now.


    I cancelled all Discover cards more than 15 years ago and never apply for another card. Why? They're not widely accepted everywhere like Visa, Master and recently Ameirican Exp. 15 years ago, American Exp and Discover have about the same popularity, but now, you rarely see Discover anymore in most places.

  • Reply 33 of 42
    fallenjtfallenjt Posts: 4,040member
    Quote:
    Originally Posted by sog35 View Post

     

     

    mines does.

     

    just scan your card and the app will tell you if it works or not


    My Amazon Visa works great too. I wish Apple allows more than 8 cards because I want all of my Debit cards to be in there too. BTW, when will ATM have NFC?

  • Reply 34 of 42
    SpamSandwichSpamSandwich Posts: 33,408member
    fallenjt wrote: »
    My Amazon Visa works great too. I wish Apple allows more than 8 cards because I want all of my Debit cards to be in there too. BTW, when will ATM have NFC?

    I don't undetstand the last comment. What benefit would there be from adding NFC to an ATM? That could make it more attractive to thieves to hold a gun to your back while hiding behind you as you withdraw money.
  • Reply 35 of 42
    lantznlantzn Posts: 240member
    rogifan wrote: »
    Ok now we just need more retailers to support NFC. I wish there was something Apple could do to speed up NFC adoption.

    Well as more people gain access there will be that many more customers asking businesses if they support it. My state employee CU just announced they will be supporting it soon and that's a lot in our state.
  • Reply 36 of 42
    solipsismysolipsismy Posts: 5,099member
    I don't undetstand the last comment. What benefit would there be from adding NFC to an ATM? That could make it more attractive to thieves to hold a gun to your back while hiding behind you as you withdraw money.

    How would that make it more attractive? I'd think that holding a gun to your head would be effective for getting people to use their magnetic strip and PIN already. Plus, we're only talking about $300-500 for most ATMs.

    I see NFC at ATMs are being inevitable because it could mean I could use my iPhone to get out money. Touch ID + PIN at the ATM seems like a beautiful thing to me.
  • Reply 37 of 42
    fallenjtfallenjt Posts: 4,040member
    Quote:
    Originally Posted by SpamSandwich View Post





    I don't undetstand the last comment. What benefit would there be from adding NFC to an ATM? That could make it more attractive to thieves to hold a gun to your back while hiding behind you as you withdraw money.

    Thieves can still "hold the gun to your back while hiding behind you as you withdraw money": apply to traditional way too. You point is invalid.

    The benefit of NFC at ATM is: no cards to carry, the same benefit as the regular transactions at POS.

  • Reply 38 of 42
    fallenjtfallenjt Posts: 4,040member
    Quote:

    Originally Posted by SolipsismY View Post





    How would that make it more attractive? I'd think that holding a gun to your head would be effective for getting people to use their magnetic strip and PIN already. Plus, we're only talking about $300-500 for most ATMs.



    I see NFC at ATMs are being inevitable because it could mean I could use my iPhone to get out money. Touch ID + PIN at the ATM seems like a beautiful thing to me.

    Agree.

  • Reply 39 of 42
    Quote:

    Originally Posted by SpamSandwich View Post



    I don't undetstand the last comment. What benefit would there be from adding NFC to an ATM? That could make it more attractive to thieves to hold a gun to your back while hiding behind you as you withdraw money.

     

    Because

    http://krebsonsecurity.com/2010/02/atm-skimmers-part-ii/

  • Reply 40 of 42
    SpamSandwichSpamSandwich Posts: 33,408member
    Quote:
    Originally Posted by SolipsismY View Post





    How would that make it more attractive? I'd think that holding a gun to your head would be effective for getting people to use their magnetic strip and PIN already. Plus, we're only talking about $300-500 for most ATMs.



    I see NFC at ATMs are being inevitable because it could mean I could use my iPhone to get out money. Touch ID + PIN at the ATM seems like a beautiful thing to me.



    I think the end result of these advances by Apple will be an all-digital currency economy, one possibly in which printed money is illegal or simply phased out. It will be an attempt to squash black markets and the underground, unreported and untaxed economy by governments working together (oh, and of course they'll use the "anti-terror" and "we're doing it for the children" excuses also). Mark my words.

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